Concentrated Milk Fat Market Size, Growth Analysis, Share, Leading Key Players, Trends, And Forecast To 2033

The concentrated milk fat market size has grown rapidly in recent years. It will grow from $4.79 billion in 2023 to $5.31 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to dairy industry demand, food processing and baking, confectionery and chocolates, flavor enhancement, international trade and export.

The concentrated milk fat market size is expected to see rapid growth in the next few years. It will grow to $8.04 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to health-conscious alternatives, customized fat blends, clean label and natural ingredients, plant-based alternatives. Major trends in the forecast period include bakery and confectionery innovations, plant-based alternatives, sustainable sourcing and production, global trade and export, customization for foodservice.

Market Overview -
Concentrated milk is defined as a dairy product that has a longer shelf life as the milk is obtained by removing moisture. It contains minerals and vitamins same as milk.

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Dairy Industry Growth Driving The Concentrated Milk Fat Market
The strong growth of the dairy industry is contributing significantly to the growth of the concentrated milk fat market going forward. The dairy industry comprises the production of milk on dairy farms and the processing of milk and milk products at dairy plants. Concentrated milk fat is extensively used in the dairy industry to manufacture cheese, ice cream, and dairy creams, thereby fueling the market's growth. For instance, according to an article published in Business Standard, an Indian daily edition newspaper, the Indian dairy industry will grow by 9-11% during 2021-22. Also, according to Invest India, an India-based investment promotion and facilitation agency, the dairy industry in India is expected to reach $355 billion by 2025. Therefore, the strong growth of the dairy industry is driving the concentrated milk fat market growth.

Competitive Landscape -
Major companies operating in the concentrated milk fat market include Darigold Inc., Grassland Dairy Products Inc., Lactalis Ingredients, FrieslandCampina Professional NV, California Dairies Inc., Fonterra Co-operative Group, Hoogwegt US Inc., FIT Company, JLS Foods Inc., G&R Foods Inc., Fista Group, CP Ingredients Ltd., Provilac Dairy Farms Private Limited, DANA Dairy Group Ltd., Keynote Dairy Corp. Ltd., Anand Milk Union Limited, Koninklijke FrieslandCampina N.V., Pine River Dairy Inc., MCT Dairies Inc., Prolac Pvt. Ltd., Galloway Company, Agropur Cooperative, Dairy Farmers of America, Glanbia plc, Arla Foods amba, Royal FrieslandCampina N.V., Euroserum SAS, Milk Specialties Global Co., Westland Co-Operative Dairy Company Ltd., Murray Goulburn Co-operative Co. Limited, Tatura Milk Industries Ltd., Synlait Milk Limited, Tatua Co-operative Dairy Company Limited, Meggle AG, Batory Foods Inc., Carbery Group Ltd., Milkfat Products Company, Uelzena eG, Milkio Foods Limited

Expansive Food And Beverage Industry Boosting The Concentrated Milk Market
The growth of the food and beverage industry is expected to propel the growth of the concentrated milk fat market going forward. The food and beverage industry encompasses the businesses and activities involved in the production, processing, distribution, and sale of edible products and beverages for consumption, including everything from agriculture and food processing to restaurants and beverage manufacturing. The food and beverage industry uses concentrated milk, such as condensed and evaporated milk, to increase the richness and flavor of a variety of products, like desserts and sauces, while also extending the shelf life due to reduced moisture content. For instance, in August 2023, according to an article by USA Today, a US-based news broadcasting company, the U.S. restaurant industry made $898 billion in sales in 2022, which is an extra $166.5 billion from 2021 sales. Therefore, the growth of the food and beverage industry is driving the growth of the concentrated milk fat market.

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Key Segments -
The concentrated milk fat market covered in this report is segmented -
1) By Product: Organic, Conventional
2) By Application: Bakery And Confectionery, Dairy Products, Nutraceuticals, Other Applications
3) By Distribution Channel: Online Store, Offline Store

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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